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The Ohio Senate today passed legislation today aimed at making it easier for Ohioans to save money for their children’s education.

Jointly sponsored by State Senators Shannon Jones (R-Springsboro) and John Eklund (R-Munson Township), Senate Bill 6 increases the maximum income tax deduction allowed for contributions to a 529 college savings plan from $2,000 to $10,000 for each beneficiary annually.

"Ohio's college students are burdened by an overwhelming amount of student debt," said Jones. "Increasing the tax deduction for contributions to an Ohio college savings plan will allow families to save more and borrow less."

In 2013, the average student loan debt for Ohio college graduates was $29,090, higher than the national average. Over 640,000 Ohioans invest in 529 college savings plans, exceeding $9 billion in total contributions.

“Improving incentives to save can enhance the financial health of all Ohioans,” said Eklund. “When we save for our children’s education, we advance their futureprospects."

The bill also establishes a five-member Joint Committee on Ohio College Affordability in order to recommend strategies for reducing the cost of attending college in Ohio. The Joint Committee, composed of five members from each chamber of the Ohio legislature, would be required to submit a report to the Governor and General Assembly no later than one year after the effective date.

The legislation passed the Senate with bipartisan support and will now go to the House for further consideration. If enacted, it will take effect immediately upon signing.

"Bringing the missile defense system to Ohio would create hundreds of high-paying jobs for our community," said Eklund. "I am happy to see the House take action on this important resolution that I hope will help secure a multi-billion dollar investment in Ohio, and also play an important role in our country's national defense strategy."

“It’s important to have clarity and certainty in the procedures of our criminal justice system,” stated Eklund. “Without it, prosecutors' jobs are more difficult, defendants risk losing rights, and public confidence in the system suffers.”

“The time has come for public safety and corrections policy to be driven more by data analysis than by guesswork and suppositions,” said Senator Eklund. “Part of that analysis must factor in the very real impacts that behavioral health issues and the current drug crisis are having on the system."